Bank of Ireland to shut 103 branches as digital shift reaches ‘tipping point’ March 1, 2021 Bank of Ireland has announced it will close 103 branches across the island as the bank shifts to a digitally driven service. The closures are part of a cost cutting initiative which will shut 15 of its 28 branches currently operating in Northern Ireland. In August, the bank said it was aiming to cut 1,400 [...]
Wagamama owner The Restaurant Group burns through £5.5m a month during lockdown March 1, 2021 Wagamama owner The Restaurant Group has said it expects to burn through £5.5m a month until lockdown restrictions are lifted. The group announced details of the cash burn rate at Christmas but today said it expected to stay at this level until the end of restrictions, which are due to be lifted no earlier than [...]
Reviews website Trustpilot set for London IPO March 1, 2021 Trustpilot is considering launching an initial public offering in London that would see at least a quarter of the company floated on the London Stock Exchange. The offer would comprise new shares raising proceeds of around $50m, the company announced on Monday. Trustpilot is targeting a premium listing on the London market and expects to [...]
Russian retailer Fix Price targets $1.7bn London listing March 1, 2021 Russian budget retailer Fix Price is targeting an IPO size of between $1.5bn and $1.7bn as it finalises its London listing. Earlier this month the company, which is the largest value retailer in Russia, announced its float would allow it to pursue growth and international expansion. Fix Price, which launched in 2007, has more than [...]
Daily Mirror owner Reach sees profit fall despite stronger second half March 1, 2021 Reach today posted a 12.8 per cent fall in profit as the newspaper publisher reported a stronger second half of the year. The firm, which owns the Mirror and the Express, said that profit fell to £133.8m, in line with expectations. An 18.9 per cent decline in print revenue over the year sent the group’s [...]
BT chair Jan du Plessis steps down to ‘focus on other interests’ March 1, 2021 BT chair Jan du Plessis will step down from the board less than four years after joining the telecoms firm. The former Rio Tinto chair joined BT as a non-executive director in June 2017 and was appointed chair that November. Prior to his role at the telecoms giant, du Plessis was chairman of SABMiller when [...]
Ladbrokes owner Entain hikes Enlabs offer after shareholder resistance March 1, 2021 Ladbrokes owner Entain has today hiked its offer for Swedish rival Enlabs to around £310m, the firm announced this morning. The FTSE 100 firm said that it was raising its bid from 40 Swedish krona per share to 53 Swedish krona per share, giving the firm a valuation of 3.7bn krona (£311m). The decision to [...]
E-commerce firm Bango appoints new finance chief March 1, 2021 Data-driven commerce company Bango has today announced the appointment of Matt Garner as its new chief financial officer. Garner will join the board of directors with immediate effect, replacing Carolyn Rand who has stepped down. Paul Labey, CEO of Bango, thanked Rand for her service after leading a strong 2020 that saw the company deliver [...]
Online share of grocery sales hits record level during third lockdown March 1, 2021 The third national lockdown pushed the share of online grocery sales to a record high in January, double the level the previous month. The pandemic has accelerated the shift to online shopping with Britain’s big four supermarkets expanding their capacity during the crisis. The online share of grocery sales hit 16 per cent in January, [...]
Rail commuters to get flexible season tickets in back to office bid March 1, 2021 Commuters are set to be offered flexible season rail tickets as a part of the government’s bid to try and get people back to offices by summer. The new flexi-tickets will reportedly be introduced by 21 June when England Covid restrictions are due to end and could save commuters hundreds of pounds a year. The [...]
